This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Currency Market Price Action Forecast for Aug. 4-8

NEW YORK ( TheStreet) --  EURUSD -- Euro/dollar bearish trend intact

The EURUSD finally found some buying interest on Friday, as the market rallied modestly higher after hitting a low of 1.3366 last Wednesday.

4 Stocks Warren Buffett Is Selling in 2014

The bearish trend is still intact in this market, and so we still prefer to wait for sell signals after a retrace higher. If this market can rally back up to resistance near 1.3480-1.3510, we will watch that area closely for a price action sell signal to rejoin the downtrend.

eurusd-august-4-2014

GBPUSD -- Sterling/dollar continues falling lower

The recent bearish momentum in the GBPUSD accelerated last week, as the market lost significant ground late in the week. Traders can look for price action selling opportunities if this market rallies back up to resistance near 1.7000 this week. Otherwise, if it continues to fall and hits the key support level down near 1.6690, we will watch for buying opportunities from that key level, to trade back up toward resistance levels.

gbpusd-august-4-2014

AUDUSD -- Aussie/dollar weakens, still within trading range

Last week, AUDUSD broke and closed below near-term support at 0.9320 that had been holding it for some time recently. If price keeps falling lower this week, we see key support coming in down near 0.9200, the bottom of the trading range between 0.9450- 0.9200 (a trading range is an area of price consolidation where price oscillates between an obvious support and resistance level).

Traders can keep a look out for buying opportunities near 0.9200 key support if the market tests that level this week.

audusd-august-4-2014

Mixed Signals Abound: Tough Decisions: Jim Cramer’s Best Blogs

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,164.95 -251.90 -1.45%
S&P 500 1,994.99 -26.26 -1.30%
NASDAQ 4,635.24 -48.1670 -1.03%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs